If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.
If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky. The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam. If he were to pocket hundreds of millions... Guess where that money would have come out of. careful stofli, you're building up a lot of vested academic interest in wishing for the bitcoin collapse now. What if it succeeds? You risk spending the rest of your days trying cheer down a truly humanity changing technology and looking like a bitter and twisted naysayer. The higher you nail your colours to the mast, the further your accidental fall from grace my friend. The risk-free trade is on the other side for your profession. |
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MIT can't resist it  ... like catnip. |
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Really good govt secrecy from the courts can hide as much incompetence as cool tech.
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That being the case, it's starting to be reminiscent of the spring of 2013 during the whole Cyprus fiasco. Getting more Greek folks in could be a trigger that gets the ball rolling upwards. heh, so true, i was thinking exactly the same thing, it is replay of 2013 ... albeit at bigger scale Greece >> Cyprus and $230 >> $30 so mini-wave up to $2-3k area when greece goes this spring and then big wave up to $10-12k for christmas? There was a price spike that happened around the same time as Cyprus, but it wasn't because Cypriots were buying Bitcoin; at least I've never seen any actual evidence of it. IMO there was no Cyprus Effect. it was about 5 months after the first halving, but the Cyprus effect was real, at least that's what the perception was at the time and as you well know, with the Griffin good money, it is all about the price perception and price feedback loop. Maybe not many Cypriots actually bought bitcoin but the fact they had ALL their bank accounts frozen overnight by the ECB sent a strong message to bitcoin-curious all across the world and in particular Europe, that yup, bitcoin is better than that ... perception is everything |
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sheez, why does this guy even feel qualified to comment in such detail about the technology? does he know about the code, complex systems behaviour, distributed networks? seems like he's got an unarticulated "political" problem with decentralisation (which in itself is a huge red flag since it is a apolitical technical feature) and if he has better ideas like he believes with his "centralised blockchain" he could submit them to github or pay someone to write some code that has his architectural brilliance embedded. these guys are still in denial. the game's moved on old chaps. sometimes the clever thing to do when outgunned is stfu before looking stupid. |
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That being the case, it's starting to be reminiscent of the spring of 2013 during the whole Cyprus fiasco. Getting more Greek folks in could be a trigger that gets the ball rolling upwards. heh, so true, i was thinking exactly the same thing, it is replay of 2013 ... albeit at bigger scale Greece >> Cyprus and $230 >> $30 so mini-wave up to $2-3k area when greece goes this spring and then big wave up to $10-12k for christmas? |
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... it reads like he went to the SR and it blew his mind.
I'm liking all this angst again coming out of the mainstream exactly "wtf? is bitcoin", is it this? is it that? ... they realise it is not going to die or be coopted and so they must grapple with getting a strategy together to conceptualise/deal with it. The "blockchain not bitcoin" soundbite myth dissolved on them.
Marcus, OT question. What is the algorithm you have as your sig picture? It is an equation, not an algorithm. It is the piece of a puzzle to a very old, hard problem, PM me if you want to know anymore. I thought Stolfi had some insights. Too bad you couldn't steer his obsession to solving that. Yes, he did. And I know, but it is likely one of these things where curious minds like to start at the beginning to be fully invested instead of coming along after someone else has done all the heavy lifting, like bitcoin. Then it's easier to just throw rocks and hope for some reflected glory. |
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Did not expect to see old Gox coins coming back. Hopefully those folks that lost a lot can get something back at least.
I'm sure they will and have an idea, otherwise they wouldn't come back Are refunds being made in BTC or USD? Haven't been following the Gox thing lately. How many of the idiots are going to turn straight around and give their 20% returned coins to another 3rd party to "hold safely" for them? Probably to Kraken. |
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... it reads like he went to the SR and it blew his mind.
I'm liking all this angst again coming out of the mainstream exactly "wtf? is bitcoin", is it this? is it that? ... they realise it is not going to die or be coopted and so they must grapple with getting a strategy together to conceptualise/deal with it. The "blockchain not bitcoin" soundbite myth dissolved on them.
Marcus, OT question. What is the algorithm you have as your sig picture? It is an equation, not an algorithm. It is the piece of a puzzle to a very old, hard problem, PM me if you want to know anymore. |
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http://thenextweb.com/insider/2015/04/16/bitcoin-is-the-worlds-most-dangerous-idea/weird that journalists either have no clue about bitcoin or hate the whole thing, while others think it will basically change the world. The blockchain might be the ultimate protocol to support this kind of global digital nation. With bitcoin blockchain there are no borders or limits. Blockchain cracks Pandora’s Box. It’s a rabbit hole inside of a rabbit hole inside of a rabbit hole… ... it reads like he went to the SR and it blew his mind. I'm liking all this angst again coming out of the mainstream exactly "wtf? is bitcoin", is it this? is it that? ... they realise it is not going to die or be coopted and so they must grapple with getting a strategy together to conceptualise/deal with it. The "blockchain not bitcoin" soundbite myth dissolved on them. |
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lots of doubting bears and shorts .... goooood.
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Damn, that's unlucky.
Luckily, we have Bitcoin. No borders, no master of your account.
But it doesn't come with 100% of stability. In June 2014 the value of 1 BTC was $650, now a year after it's $220. So I wouldn't call it "lucky", those who bought Bitcoins a year ago got a very similar "haircut". ... but it was by their own voluntary choice in risk-taking and by no means as permanent as the Cyprus theft. |
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Anybody know what the max cap is for NMC? There are no specs in the OP. Thanks!
same as btc, 21million. Note that a certain portion have been 'burned' in the earlier days as part of network rules. |
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You can't rule out some smart people get hired into 3-letter-agencies, for example. You especially can't rule out smart criminals joining 3-letter-agencies for the express purpose of being able to line their own pockets under the colour of law. in fact, you can just about guarantee that the more power vested in these agencies the more venal and power-seeking the type of individuals they attract. |
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I keep hearing about Bitcoin Investment Trust. Is this any way related to Bitcoin Savings and Trust? Will I be able to get similar services?
lol! you mean pirateat40s bitcoin savings and trust? On the face of it the similarities could be quite disconcerting, big pool of coins 'somewhere', pass-through broker agents, bids way above market ... lucky there is no promise of wild ROI and it is 'regulated' by wall st. i guess. |
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GBTC might start trading on monday, but I would think Gemini/Coin would want to comply with the final BitLicense before they launched.
As I understand, Gemini (the Winkles' exchange) depends only on ordinary bureaucratic licenses (MSB, MTB, whatever). If Coinbase can function, they should be able to function too (unless they are based in NY and have to wait for the BitLicense because of that). The COIN ETF is more complicated: it must be approved by the SEC, which is not just a bureaucratic formality. There is no way to tell how long the SEC will take to decide, or whather it will get approved at all. (In fact, I have read somewhere that, the longer the SEC takes to decide, the less likely is that it will be approved.) whather I find it hard to believe that the heavyweight attorney that specializes in this SEC stuff can't make it happen or know the approach to making it a high probability. I'm sure she has had clients that work in key areas of the SEC and/or is on a first name basis w/ politicians that can properly lean on the needed personnel to lock this up. Furthermore, I'm sure major interest across wall street and the hedge fund scene want this type of thing up and running to put portions of their assets into it for an intense growth wing. I'm sure Kathleen Moriarty has the skills needed, but this is a much bigger game than her getting ETFs approved by SEC through her carreer. The dollar and banking is at stake. At the same time, I think the people with power has realized that they have no good weapons to shut down bitcoin. I think they are just manipulating the price / stalling and trying to time everything in their favor. But I could be wrong (as I usually am when wearing my tinfoil hat.) The US government can if they want to. All they need to do is arrest key people in the Bitcoin community for distributing an illegal alternative to the legal national currency and make a statement saying that the use of bitcoin is illegal. No lawmakers need to get involved, they have all the precedence they need. If they made it a priority to stop the use of bitcoin internationally they would make it part of their foreign policy and you would see one country after another fall in line. And Norway would be that annoying kid that does it very quickly and then starts pestering the other countries to do it too. there is no such thing as an "illegal alternative" in the legal money sphere, in fact the FRB is on very shaky constitutional ground running their irredeemable federal reserve debt note scam considering that the only constitutional money is gold and silver coin. Bitcoin is not counterfeiting anything, it is a new form of property, you would need to destroy property law precedents to destroy bitcoin 'legally' as you suggest. Besides game theory almost dictates that the incentives are now aligned for US govt. to try and "work with" bitcoin and profit form the innovation than fight against it ... it's just the banks will be dragging their heels and toes and fingers scratching frantically. |
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no, my bet is on gvt agents who were trying to destroy Bitcoin. this board was covered with obvious trolls even back then and mtgox had just captured the public's attention for the first time with the run to 32. since then, we have found out an astounding number of facts about NSA's unabashed unconstitutional actions to invade privacy and perform sabotage such as Stuxnet, Gemalto, Prism, Merkel's cellphone, etc, etc. The SR agents were methodical, ruthless, and matter of fact about stealing SR coins with impunity. doesn't seem to far a stretch that gvt agents would steal from mtgox while taking it down at the same time. it would explain the radio silence on the whole issue as well as an attempt to bury the truth forever.
If true this would be the biggest endorsement of bitcoin I could imagine. It would mean that despite the government's best efforts and resources, they could not identify any mechanism to attack bitcoin even in it's early days, and so had to resort to attacking 3rd party intermediaries and not bitcoin itself. This implies that the bitcoin distributed computer is already hardened against large scale attacks. Of course it also means that governments are already seeking methods to attack bitcoin, and if they can not stop the DAC, regulation becomes the next obvious choice. In another light, the senate hearings of Nov-2013 may have signified a capitulation after an unsuccessful covert attack. "We can't kill this thing let's begin efforts to coopt it into an unworkable regulatory framework", like they have done with electronic gold as money. bitcoin of course has effectively no targettable counter-parties at the network level. |
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Is today boom a twilight of bull?
Or just short party before big crash?
How do you think of it?
We are up 5 from the last days' relatively stable level. It seems noone cares. it's how it begins, without conviction, noone believes it will go up any longer, at best sideways ... if you are short with conviction now prepare for some long painful thought processes. |
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Jorge, I just don't get you. You are allways such a downer. At the same time, you spend a lot of effort and energy at reasearch and writing about bitcoin. What is your motivation?
He's here to use his superior brain and education to save us from ourselves. I think it's a bit too late for most though. Actually, at first I was worried about attempts to sell bitcoin around these parts as hedge against inflation, get-filthy-rich-quick schema, etc.. But thankfully my Country does not seem to need my services in that matter: Brazilians do not seem to be much interested in bitcoin, and you bitcoiners are already doing a great job at saving the world from yourselves.  so you agree it is not a get-rich-quick now? if you had suffered the first 3 bear markets you would have known that ... like we tried to tell you know-it-all. So you don't have much reason to hang around, you look terrible btw. |
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Very ouch.
If you're having concerns now about this thread becoming a trollbox, I'm speechless.
reported for off-topic, go and get drunk again adam you part-timer |
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